How to Successfully Manage a Joint Checking Account

When you share a checking account with your spouse, it can be easy to lose track of the money you have, since you’re both writing checks. For instance, if your spouse goes out of town for a few days and writes a few checks, unless he/she keeps you informed, you might write just as many checks, leading to an overdrawn account. The personal checks offered by CheckWorks can help you avoid some of the confusion associated with a joint checking account.

Our personal checkbooks have various features, including duplicates of written checks and detailed registers. These two features, alone, can help you successfully manage a shared checking account. Both features allow easy record-keeping of checks written, no matter which one of you writes the check. At the end of the month, you will find that the duplicate checks and register will help you quickly and easily balance your checkbook.

Here are a few other tips for managing a shared checking account:

Communicate. If you write a check, let your spouse know, so that he/she can write the information in their checkbook register. Lack of communication is a recipe for a disaster.

Use the register the right way. Instead of jotting down a quick, abbreviated note in the register, take the time to write down the specifics for each purchase.

Be neat. You can be as detailed and precise in your register as possible — but if you can’t read the writing, it’s not going to do you any good. Be neat when recording information in your checkbook register, and you will avoid a headache later.

Compare your register with your monthly bank statement. It is important to compare the two each month, and balance them, to ensure that you and your bank have accurate records of your spending. If you find discrepancies, don’t hesitate to contact your bank. Our detailed registers and duplicate checks can help immensely in tracking down missing transactions.

The bottom line is that a joint checking account is a great resource for couple — but it needs to be managed wisely by both parties. Contact us today at CheckWorks to order your set of personal checks to help you stay on top of your joint checking account.